For many thousand of years, Egypt has been a country of culture and luxury. Today, a growing number of investors looking for a bit of excitement are turning to Egypt property investment. With a wealth of history, clear water, perfect sandy beaches and top rated resorts, the towns along the Red Sea are ideal for investment property.
Considered the tourist capital of the Red Sea coast, Sharm El Sheikh, or Sharm, as it is dearly called by its citizens, is ideal for potential investors. With a warm climate tempered by the large body of water, Sharm has plenty to offer for both the tourists and the professional investor. Resorts offer excellent access to water sports and scuba diving is particularly popular, due to the clear waters and array of colourful marine life. It also has a vibrant nightlife scene with well known establishments as Little Buddah, which has the longest continuous bar in the Middle East, and the newest addition of the dance club, Pacha.
The value of property in Sharm El Sheikh is on the rise, suggesting that now is the time to invest. Between 1982 and 2000, the total number of resorts increased from 3 to 91 and guest nights increased from 16 thousand to 5.1 million. While prices on property have gone up the last few years, it is still realistic to find a luxury property starting at $80 000 or a golf property starting at $50 000. With the low cost of living, a rental yield of about 10% - 15% and an anticipated continued increase in capital growth, Sharm El Sheikh offers an attractive opportunity for people interested in property investment in Egypt.
While it is not as well known as Sharm El Sheikh, Hurghada property also provides excellent opportunities for investors. Just a few years ago Hurghada was once a small fishing village, but in the last few years it has developed into a tourist destination with 248 000 year-round residents, and is now considered one the leading resorts along the Red Sea coast. Particularly well known for its water sports, Hurghada is one of the worlds best destinations for windsurfing, kiting, sailing, swimming, diving and sea fishing. Boats with glass bottoms are on hand for those who want to view the impressive fish and coral without going in the water.
Luxury property in Hurghada runs many thousand dollars less than Sharm El Sheik and has more capital appreciation potential of an up-and-coming resort that has not yet come into full flourision. Because properties are occupied the whole year potentially, rental incomes are very strong, at 10% -15% and sometimes higher for more attractive properties.
While these are 2 of the most popular, the Red Sea shores of Egypt has numerous locations ideal for investment. Whether looking for an established destination, an destination tourist destination or even your own little paradise, Egypt property is worth investigation and can lead to great personal and financial gains.
